Article: BUSINESS IN ASIA TODAY - MAY 20, 2009.

Business in Asia on May 20, 2009. A summary prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, market intelligence and business opportunities:

JAPAN'S TOP BANKS HIT WITH Y1.17TLN IN COMBINED NET LOSSES FOR FY08

TOKYO - Japan's six major banking groups logged an aggregate consolidated net loss of 1.17 trillion yen (US$12.2 billion) for the year ended March 31, marking their first fall into the red in five years. Massive impairment charges on shareholdings and disposals of nonperforming loans exacted heavy tolls on the fiscal 2008 earnings at Mitsubishi UFJ Financial Group Inc. (TSE:8306), Mizuho ...

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